Bill Gates: In The Future, Tech-Bots Will Take Your Jobs and Ending Corporate Taxes Will Prevent Poverty and Social Unrest

Bill Gates, speaking at the American Enterprise Institute, predicted that in the near future technology will progress such that many workers will become superfluous.

Said Gates, “Software substitution, whether it’s for or waiters or nurses … it’s progressing. …  Technology over time will reduce demand for jobs, particularly at the lower end of skill set. …20 years from now, labor demand for lots of skill sets will be substantially lower.”

“I don’t think people have that in their mental model,” he says.

The richest man in the world also opposes raising the minimum wage, and believes that in order to prevent the social unrest that comes with mass unemployment the government should appeal to the better natures of large corporations by eliminating corporate and payroll taxes in order to encourage them to employ people they apparently won’t need.

In other news, Joseph Stiglitz is in the New York Times calling such “trickle down” economics a “myth.”

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Jane Hamsher

Jane Hamsher

Jane is the founder of Her work has also appeared on the Huffington Post, Alternet and The American Prospect. She’s the author of the best selling book Killer Instinct and has produced such films Natural Born Killers and Permanent Midnight. She lives in Washington DC.
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